Manchester United Owes Almost £1bn, New Figures Reveal

By -

Manchester United football club of England owe £969.6m through a combination of gross debt, bank borrowings and outstanding transfer fees with associated payments, according to new figures.

The club released their second quarter results from September to 31 December 2022 on Thursday, March 30.

Compared to the previous year, the amount owed the club has increased significantly..

The report shows the principal debt remains at $650m, a change in the exchange rate meant the club owed £535.7m compared to £477.1m at the same point in the previous year.


In addition, £206.2m has been taken from a rolling credit facility, with another £227.7m owed in outstanding transfer fees. The club did have £31m in cash or equivalent, but the overall sum remains just short of £1bn.


In posting profits of £6.3m for the quarter, United have also revealed sponsorship revenue has increased 43.2% to £50.4m over the prior quarter. The club said this was due to the impact of their training kit agreement with Tezos, plus a 'one-off sponsorship credit', which they have opted not to detail.

The report also shows that wages are down £20.4m to £77.3m, a decrease of 20.9% as Erik ten Hag's team are not in this season's Champions League.

Comments

Post a Comment

Popular posts from this blog

Israel Moves To Shut Down Al Jazeera After A New Law Permits The Banning Of International Media Deemed A security Threat

By -
Image
    Israel’s Prime Minister Benjamin Netanyahu has vowed to shut down news network Al Jazeera following the passage Monday of a  sweeping law  allowing the government to ban foreign networks perceived as posing a threat to national security. Netanyahu said he intended “to act immediately in accordance with the new law” to stop the Qatari-based news outlet’s activity in the country, according to a post on social media platform X following the passage of the law. Al Jazeera Media Network, which has produced dogged, on the ground reporting of Israel’s war against Hamas in Gaza,  slammed the decision  in a statement, vowing it would not stop the network from continuing its “bold and professional coverage.” The new law gives the prime minister and communications minister authority to order the temporary closure of foreign networks operating in Israel – powers that rights groups say could have far-reaching implications on international media coverage of...
Read more

Tragic Toll: 87 Lives Lost in Northern Gaza Strike Amid UN Warning of Inescapable Danger

By -
Image
  Gaza's Hamas-run health ministry has said at least 87 people were killed and more than 40 injured in Saturday's Israeli air strike on the city of Beit Lahia in the north of the Palestinian enclave. The ministry said a number of people were still under the rubble after a residential area was hit. Israel said it was checking reports of casualties but added that earlier - lower - figures published by Hamas were "exaggerated". In recent weeks, the Israel military has been carrying out intense bombardment of northern Gaza, saying it wanted to prevent Hamas fighters from regrouping there. A senior UN official warned that the "nightmare in Gaza is intensifying" and the war "must stop now". The UN's peace process co-ordinator, Tor Wennesland, said that "nowhere is safe in Gaza". In a statement, Tor Wennesland said he condemned the continuing attacks on civilians. "This war must end, the hostages held by Hamas must be freed, the displac...
Read more

Mysteries In The Skies: US Air Force F-16 Crashes Off South Korean Coast

By -
Image
In a dramatic turn of events, a United States Air Force F-16 fighter jet plunged into the waters off the coast of South Korea during a routine training mission, adding another layer of intrigue to the series of crashes involving US military aircraft stationed in Korea. The incident unfolded on a Wednesday morning around 8:41 a.m. local time, as the F-16 from the 8th Fighter Wing encountered an in-flight emergency over the waters west of the Korean Peninsula. Kunsan Air Base, situated approximately 110 miles (180 kilometers) south of Seoul, promptly issued a statement confirming the crash. Thankfully, the pilot, belonging to the 8th Fighter Wing, executed a successful ejection and was recovered approximately 50 minutes after the aircraft went down. The Air Force reported that the pilot was conscious and underwent a thorough assessment at a medical facility. Expressing gratitude, Colonel Matthew Gaetke, the commander of the 8th Fighter Wing, acknowledged the rapid response of the Republi...
Read more